CDW Co. (NASDAQ:CDW) Shares Purchased by AQR Capital Management LLC

AQR Capital Management LLC raised its holdings in shares of CDW Co. (NASDAQ:CDW) by 8.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,585 shares of the information technology services provider’s stock after acquiring an additional 4,720 shares during the quarter. AQR Capital Management LLC’s holdings in CDW were worth $13,114,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Tsfg LLC acquired a new position in shares of CDW during the 1st quarter worth approximately $26,000. Rise Advisors LLC acquired a new position in shares of CDW in the first quarter worth $34,000. Quest Partners LLC acquired a new position in shares of CDW in the second quarter worth $35,000. ORG Partners LLC acquired a new stake in shares of CDW during the second quarter valued at $34,000. Finally, Summit Securities Group LLC purchased a new stake in CDW during the 2nd quarter worth about $40,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Insider Activity at CDW

In related news, insider Sona Chawla sold 18,437 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the sale, the insider now directly owns 22,428 shares in the company, valued at approximately $5,392,812.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other CDW news, insider Christine A. Leahy bought 1,200 shares of the stock in a transaction dated Thursday, August 1st. The stock was bought at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the purchase, the insider now directly owns 102,200 shares of the company’s stock, valued at $22,090,530. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sona Chawla sold 18,437 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total value of $4,433,176.65. Following the completion of the transaction, the insider now owns 22,428 shares in the company, valued at approximately $5,392,812.60. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

CDW Price Performance

Shares of CDW stock opened at $217.81 on Wednesday. The business’s fifty day moving average price is $221.05 and its 200 day moving average price is $228.88. CDW Co. has a twelve month low of $185.04 and a twelve month high of $263.37. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $29.27 billion, a P/E ratio of 27.19, a PEG ratio of 3.40 and a beta of 1.04.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.05). The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.43 billion. CDW had a net margin of 5.29% and a return on equity of 62.22%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.43 earnings per share. As a group, research analysts anticipate that CDW Co. will post 9.4 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Monday, August 26th. CDW’s dividend payout ratio is presently 30.96%.

Analysts Set New Price Targets

CDW has been the topic of several analyst reports. Stifel Nicolaus raised their price target on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Barclays lowered their target price on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target for the company in a report on Friday, June 7th. Finally, Citigroup cut CDW from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $250.00 to $245.00 in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $252.75.

CDW Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.